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Why National Oilwell Varco (NOV) Could Be Positioned for a Surge
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National Oilwell Varco, Inc. (NOV - Free Report) is a worldwide leader in the design, manufacture and sale of machinery and equipment and in the distribution of maintenance, repair and operating products used in oil and gas drilling and production that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NOV’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that National Oilwell Varco could be a solid choice for investors.
Current Quarter Estimates for NOV
In the past 30 days, five estimates have gone higher for National Oilwell Varco while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 18 cents today, a move of 21.7%.
Current Year Estimates for NOV
Meanwhile, National Oilwell Varco’s current year figures are also looking quite promising, with twelve estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 50 cents per share 30 days ago to a loss of 31 cents per share today, an increase of 38%.
The stock has also started to move higher lately, adding 5.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Why National Oilwell Varco (NOV) Could Be Positioned for a Surge
National Oilwell Varco, Inc. (NOV - Free Report) is a worldwide leader in the design, manufacture and sale of machinery and equipment and in the distribution of maintenance, repair and operating products used in oil and gas drilling and production that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NOV’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that National Oilwell Varco could be a solid choice for investors.
Current Quarter Estimates for NOV
In the past 30 days, five estimates have gone higher for National Oilwell Varco while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 18 cents today, a move of 21.7%.
Current Year Estimates for NOV
Meanwhile, National Oilwell Varco’s current year figures are also looking quite promising, with twelve estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 50 cents per share 30 days ago to a loss of 31 cents per share today, an increase of 38%.
National Oilwell Varco, Inc. Price and Consensus
National Oilwell Varco, Inc. Price and Consensus | National Oilwell Varco, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 5.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>